BCN 2008/47 - BCSC Extends Temporary Order Prohibiting Short Selling [BCN - Lapsed]
Financial Sector Issuers - Order
October 3, 2008
The British Columbia Securities Commission today issued an order under Section 161(1) and 167.6 of the Securities Act prohibiting short selling of certain financial sector issuers (the extended order). This order further amends and extends the BCSC’s original order of September 19, 2008. The BCSC’s extended order supports the OSC’s extended Temporary order of October 3, 2008 and supports similar action taken by the SEC on October 2, 2008.
For the history of these orders please refer to BCN 2008/45.
The issuers affected by the extended order are: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Fairfax Financial Holdings Limited, Kingsway Financial Services Inc., Manulife Financial Corporation, Quest Capital Corp., Royal Bank of Canada, Sun Life Financial Inc., Thomas Weisel Partners Group Inc., The Toronto-Dominion Bank, and Merrill Lynch & Co., Canada Ltd. Aberdeen Asia-Pacific Income Investment Company Ltd. has been removed from the list of issuers affected by the extended Order as it is not interlisted in the U.S.
The extended order will be in effect until October 8, 2008, and is available on the BCSC website at www.bcsc.bc.ca.
October 3, 2008
Douglas M. Hyndman
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.